All restrictions on Forties pipeline system lifted
Any limitations to the flow of oil and natural gas from the North Sea to the Forties pipeline system are now lifted, system operator Ineos said Thursday. Ineos shut down Continue Reading
Arctic development left Russian environment damaged
The development of parts of the Arctic north of Russia has left its environment at risk from scrap materials and oil residue, a regional leader said. Sakhamin Afanasyev, the minister Continue Reading
Russia Bets on Shale Oil to Defend Its Spot as Top Producer of Crude
Companies like Gazprom Neft are leading Moscow’s drive to replicate the U.S. shale boom at the ‘Red Lenin’ oil field. KRASNOLENINSKOYE OIL FIELD, Russia—This western Siberian oil field is called Continue Reading
Oil Prices Inch Lower After API Reports Strong Crude Draw
The American Petroleum Institute (API) reported a draw of 6.0 million barrels of United States crude oil inventories for the week ending December 22, marking four large draws in as Continue Reading
Oil Eases Off More Than Two-Year High
Oil markets eased off a 2½-year high Wednesday after a pipeline blast in Libya disrupted supplies and caused a price spike. U.S. crude futures fell 33 cents, or 0.55%, snapping Continue Reading
Oil gives up gains with Libya factored in
Crude oil prices settle back into negative territory as traders turn their focus toward operations in the North Sea. File photo by Brian Kersey/UPI Dec. 27 (UPI) — Crude oil Continue Reading
What Drove WTI Above $60?
The oil pipeline carries crude oil to the Es Sider oil export terminal, Libya’s largest, raising fears of a dramatic supply outage. Early reports suggest that the explosion was the Continue Reading
Five Oil Signals to Watch in 2018
JPMorgan favors Brent Dec.-Dec. spread as stockpiles shrink OPEC, non-OPEC supply curbs compete with record shale output Oil traders are going to have their work cut out in 2018. OPEC Continue Reading
Poll: Supply discipline and demand to prop up oil prices in 2018
OPEC and Russia’s efforts to curb oil output, combined with forecasts for strong global demand growth, are expected to keep crude prices close to $60 a barrel in 2018, a Continue Reading
The Top 10 Energy Stories Of 2017
As 2017 comes to a close, it’s time to review the top energy stories of the year. There are several stories that could compete for the year’s top spot, but Continue Reading
100% Renewable Energy Worldwide Isn’t Just Possible—It’s Also More Cost-Effective
Transitioning the world to 100 percent renewable electricity isn’t just some environmentalist pipe dream—it’s “feasible at every hour throughout the year” and is more cost-effective than the current system, which Continue Reading
Physicists Just Found a Loophole in Graphene That Could Unlock Clean, Limitless Energy
By all measures, graphene shouldn’t exist. The fact it does comes down to a neat loophole in physics that sees an impossible 2D sheet of atoms act like a solid Continue Reading
All That New Shale Oil May Not Be Enough as Big Discoveries Drop
Three years after causing an oil-price crash, the shale boom may not be enough to meet rising global demand. (Bloomberg) — Three years after causing an oil-price crash, the shale Continue Reading
Libya needs a week to repair blown-up oil pipeline: NOC
A Libyan crude oil pipeline blown up on Tuesday will take about a week to repair, the head of state oil firm NOC told Reuters on Wednesday. A “terrorist group” Continue Reading
Libya out at least 70,000 barrels of oil per day
A Libyan company said it expects to be out at least 70,000 barrels of oil per day because of an explosion at a pipeline feeding the nation’s largest oil depot. Continue Reading
Es Sider crude oil loadings not interrupted by pipeline explosion: traders
Trading sources said Wednesday that crude cargoes at Libya’s Es Sider port were still loading without any interruption, following the news that there had been an explosion on one of Continue Reading
Iraq forms panel to operate Majnoon field
The Iraqi government is forming an executive committee to operate giant Majnoon oil field after the withdrawal of Royal Dutch Shell (OGJ Online, Oct. 30, 2017). Shell holds a 45% interest in the Continue Reading
With new gas deals, Egypt closes in on energy hub goal
Egypt is set to inaugurate a new wharf for natural gas and petroleum product tankers on the Gulf of Suez in the coming days, another step in its plan to Continue Reading
Nigeria: Fuel Scarcity – Despite NNPC’s Claims, Our Depots Are Empty – Marketers
The Depot and Petroleum Products Marketers Association, DAPPMA, on Tuesday expressed concern over the inability of Nigerian National Petroleum Corporation (NNPC) to send petrol to its members’ depots. DAPPMA’s Executive Continue Reading
Natural gas production starts in Peru
Spanish energy company Repsol said natural gas production started at a site in Peru that has the reserve equivalent of a quarter of the nation’s demand. Gas production started Wednesday Continue Reading
Exxon To Start Exporting Vaca Muerta Gas
Exxon will start exporting natural gas from the massive Vaca Muerta shale play in Argentina to Chile, local media reported . This will make the world’s top oil company the Continue Reading
Analysis: Bolivia seeks investors to power up lagging lithium output
Bolivia hopes surging global lithium demand can lure foreign investors to the country where nearly a decade of state-led development has left output far short of goals for the metal, Continue Reading
How China Is Killing India’s Solar Industry
The Indian government’s target is to boost installed solar power capacity more than five-fold to 100 gigawatt (GW) by 2022. The problem, though, is India meets about 85 percent of Continue Reading
Chinese Ships Caught Illegally Selling Oil To North Korea
According to South Korea’s Chosun Ilbo , U.S. recon satellites have photographed around 30 illegal transactions involving Chinese vessels selling oil to North Korea on the West Sea in October. Continue Reading
China’s Shandong to shut 10.23 million T coal capacity after Beijing’s criticism
China’s industrialised province of Shandong plans to eliminate 10.23 million tonnes of coal capacity, a local official said on Thursday, two days after the central government criticised Shandong officials for Continue Reading
China’s independent refiners get import quotas close to annual ceiling
China’s independent refineries have received their first round of crude import allocations with volumes close to their annual ceiling, a move that will allow them to better pace their imports Continue Reading
China’s Property Sector Groans Under the Weight of Its Debt
Barring a decision to loosen the government’s control of credit and property investment and purchases, China’s real estate market will continue to decline next year. The threat of a sharper Continue Reading
Italy’s Eni begins drilling oil well in Alaska’s Beaufort Sea: BSEE
Italian oil producer Eni this week began drilling a new well in U.S. waters off the north coast of Alaska, becoming the first company to do so since 2015, federal Continue Reading
Shell’s operations seen boosted by U.S. tax overhaul
Royal Dutch Shell Plc said it expects recently enacted U.S. tax reform legislation to have a “favorable” impact on its operations. The change in U.S. tax legislation, which is a Continue Reading
Texas oil and gas trade group praises U.S. tax overhaul
Without key provisions in the Republican-led tax act, a Texas oil and gas trade group said the 20 percent of oil produced by smaller companies would be at risk. U.S. Continue Reading
Shell, Barclays Detail Billions in Charges Related to U.S. Tax Changes
Royal Dutch Shell RDS.B -0.04% PLC and Barclays BCS 0.09% Bank PLC said they would take large charges attributable to the U.S. tax overhaul —joining a parade of global firms Continue Reading
Number Of EV Charging Points To Rise Significantly
Gasoline stations outnumber electric vehicle charging stations by a wide margin in key global markets. That gap is expected to narrow with planned charger installations and significant growth in fast Continue Reading
Permian Beats Own Record In Oil Production
The Permian Basin pumped an estimated 815 million barrels of crude this year, beating its previous record of 790 million barrels, achieved back in 1973, IHS Markit reported . The Continue Reading
Financial oil trading booms, especially in the United States
Financial oil trading is booming, hitting records this year, with volumes in U.S. contracts outpacing growth elsewhere on the back of the U.S. shale oil boom. Trading data in Thomson Continue Reading
Power Plants Bloom Even as Electricity Prices Wilt
A glut of gas flowing out of the shale field has helped fuel a surge in power plant construction in the northeast. A glut of gas flowing out of U.S. Continue Reading
UK North Sea Forties oil pipeline pumps at half capacity: source
Flows through Britain’s most important oil pipeline, Forties, have recovered to around half the normal rate, a trading source said on Wednesday, suggesting a steady return to normal operations after Continue Reading
Gazprom sees Chinese gas pipeline online in two years
China will start getting natural gas directly from Russia through the Power of Siberia pipeline in less than two years, the chairman of Gazprom said. The board of directors at Continue Reading
New oil coming out of North Sea
Tens of thousands of barrels of new oil are now coming from the Catcher development off the northeast coast of Scotland, Premiere Oil said Wednesday. Premiere said initial production from Continue Reading
Forties Starts Pumping At 50% Capacity
The Forties pipeline system in the North Sea has begun pumping crude oil at half of its normal capacity, an unnamed source from the trading circles told Reuters. The Forties Continue Reading
German December wind power output on track for record monthly high
Wind power will be Germany’s biggest single source of electricity this quarter with a number of storms pushing wind output to new record-highs and December on track for a new Continue Reading
Half the world’s population reaching below replacement fertility
According to the most recent UN estimates (United Nations 2017), almost one half of the world’s population lives in countries with below replacement fertility (BRF), i.e. with a total fertility Continue Reading
Oil Prices Rise to Two-Year Highs
Oil prices rose to their highest levels in 2½ years Tuesday following a pipeline explosion in Libya, the latest disruption to supplies in an already tightening market. U.S. crude futures Continue Reading
Oil remains near 2015 highs on tight market outlook
Oil prices on Wednesday remained near two-and-a-half-year highs from the previous session as the market outlook for 2018 is relatively tight, although the gradual resumption of flows through a major Continue Reading
Oil Jumps to Highest Since Mid-2015 on Libya Blast, Saudi Budget
Libya’s output seen declining up to 100,000 b/d on explosion Saudis are said to see $75 prices boosting revenue 80% by 2023 A pipeline blast in Libya and a bullish Continue Reading
Was 2017 the Year that the Tide finally Turned against Fossil Fuel Projects?
Last week AXA announced its sell off of €700m of tar sands investments from its balance sheets, covering 25 tar sands companies and 3 major pipelines projects. Thomas Buberl, the Continue Reading
Oil Market Will Rebalance By March: Iraqi Minister
With what has now become habitual optimism, the Iraqi oil minister, Jabar al Luaibi, said he expected the global oil market to rebalance by the end of the first quarter Continue Reading
A New Era For Oil And Gas Majors
Two and a half years ago, analysts asked when Italy’s Eni would be able to start producing gas from the giant Zohr field offshore Egypt. The overwhelming majority said this Continue Reading
Nigeria: Fuel Scarcity – Fayose Calls for Buhari’s Resignation
The Ekiti State Governor, Ayodele Fayose, has reacted to the persistent fuel scarcity in the country and called on President Muhammadu Buhari to resign for failing to ending the crisis. Continue Reading
Twenty-eight arrests after Venezuela looting, violence
Venezuelan authorities said on Tuesday they had arrested 28 people in southern Bolivar state for looting and disorder over Christmas in the latest unrest during a severe economic crisis. There Continue Reading
India challenges China as world’s biggest LPG importer
India is set to surpass China as the biggest importer of liquefied petroleum gas (LPG) this month as a drive to replace wood and animal dung fires for cooking boosts Continue Reading